An IRS fact sheet explains when overtime compensation qualifies for the H.R. 1 deduction and how Fair Labor Standards Act ...

On January 23, 2026, the Department of Treasury and the Internal Revenue Service (IRS) issued Fact Sheet 2026-01, providing answers to ...

The IRS has released a set of FAQs to answer questions about eligibility, reporting, and limits for the new, temporary ...

Being salaried refers to a specific type of compensation, and it's a common misconception that salaried employees do not get overtime pay. While being salaried is defined as being paid a fixed or set ...

A new deduction allows workers to subtract part of their overtime wages from their 2025 taxable income, lowering some taxpayers' bills in April. However, workers will need to calculate their deduction ...

Overtime pay is the additional pay an employee receives for working beyond their regular hours in a work week, usually beyond 40 hours. This additional pay is typically calculated as one and a half ...